Qatar eyeing $35bn US investment

Doha: Qatar plans to invest $35 billion over the next five years in the US, as it diversifies its global stakes, its sovereign wealth fund said yesterday.

The Qatar Investment Authority (QIA) revealed its US investment plans in a statement announcing the opening of an office in New York.

The office “will enable QIA to develop and expand its global investment portfolio, with the State of Qatar having committed to investing $35bn in the US over the next five years,” it said.

QIA said it also “remains committed to its investments in Europe, Asia and the Middle East,”.

Qatar’s portfolio – valued at between $256bn and $334bn includes significant stakes in British supermarket chain Sainsbury’s and the London Stock Exchange, as well as owning Harrods department store and the Shard skyscraper in London.